Creating companies in Ecuador will be easier

This is provided in the pilot plan that the Government, on the frame of changing the productive matrix, will implement in Quito, Guayaquil, Cuenca, Santo Domingo, Manta and Loja, to simplify procedures that allow the creation and opening of companies or businesses.

The regime ensures that the facilities provided in the pilot plan will save up to $ 67 million annually to the corporate sector, over concepts of cost, time and profits. “It is necessary to reduce paperwork, to avoid all those obstacles placed by the bureaucracy,” said President Rafael Correa during his usual nation-wide broadcast.

According to the Government, Ecuador ranks 169 among 174 countries on issues based on facilitating the installation of a company or business.

Among the new benefits of the pilot plan are: a dramatically reduced processing time and managed through a single window, the digitalization of procedures, the removal of the minimum capital requirement for the establishment of the company, significantly reducing costs for creating a business, among others.

Vice President Jorge Glas is in charge of changing the Ecuadorian Productive Matrix.